Markets & Finance

JP Morgan Ups Altiris Opinion

JP Morgan raised its investment recommendation on Altiris (ATRS) to neutral from underweight, explaining that the skeptical consensus view of the company could start to prove overly negative.

Analyst Aaron Schwartz said that sentiment has swung from overly positive to overly negative on Altiris, and he believes consensus estimates have likely bottomed, suggesting there is limited downside to shares. He looks for September quarter results to be largely as expected, which, when considering sentiment, could prove to be positive. Despite the shares trading at a slight premium to their peer group, he feels negative earnings per share surprises are less likely, given that the company's recent 10% restructuring provides comfort.